In a report released today, Sidney Ho from Deutsche Bank maintained a Hold rating on Cree (CREE), with a price target of $52. The company’s shares closed last Monday at $58.24.
According to TipRanks.com, Ho is a 5-star analyst with an average return of 22.7% and a 62.7% success rate. Ho covers the Consumer Goods sector, focusing on stocks such as Smart Global Holdings Inc, Universal Display, and Kla-Tencor Corp.
Currently, the analyst consensus on Cree is a Moderate Buy with an average price target of $60.25, representing a 3.4% upside. In a report released today, JMP Securities also downgraded the stock to Hold.
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Based on Cree’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $228 million. In comparison, last year the company had a GAAP net loss of $33.26 million.
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Cree, Inc. operates as an innovator of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. It operates through the following segments: Wolfspeed, LED Products, and Lighting Products.
